US supply and Asian demand are set to lead liquefied natural gas (LNG) growth in 2024, according to the Shell LNG Outlook.
Steve Hill, Executive Vice President for Shell Energy, said, “We are most bullish about China. The amount of new gas-fired generation that will come online in the next two years is more than all the gas-fired generation that exists in the UK today.”
China is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas.
Hill said, “With China’s coal-based steel sector accounting for more emissions than the total emissions of the UK, Germany and Turkey combined, gas has an essential role to play in tackling one of the world’s biggest sources of carbon emissions and local air pollution.”
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